TABLE OF CONTENTS

Page Title Page Approval Sheet Acknowledgement Executive Summary List of Figures List of Tables Chapter 1 Business Concept Business name Business offerings Unique quality Business structure Location Business feasibility Study objectives Chapter 2 - Situation Analysis Company profile Products and services Marketing plan Management plan Operational plan Financial plan Sustainable Development Plan Company expectations Chapter 3 Business Viability Pitfalls Positives Needed Capital Entrepreneurs Role Business Plan Licensed Potential Corporate Partners Proprietary Rights Infrastructure Members 46 9 i ii iii iv v vi 3

Chapter 4 Business Schedule Pre-operating period Operating period Chapter 5 Summary, Conclusion, and Recommendation Related studies Industry review Key drivers and challenges Target market Competition SWOT Matrix Business viability Business schedule Conclusions Recommendations List of Work Cited Appendix Articles of Partnership

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Chapter 1 Business Concept

Introduction

One of the goals of the tourism industry is to provide customer satisfaction. It means that the tourism establishments must meet the expectations of the tourists by providing them with the best experience during their travel to a specific destination. Their trip doesn't end until they go back to their own homes. It doesn't matter what activities they did along the way as long as at the end of their journey, they have the best experience and a big smile on theirfaces.

In line with this, the group has decided to put up a Bed and Breakfast Inn in Tagaytay City, in order to complement the tourists experience. Most tourists are far from the destination so majority of them go home early and miss out some of the fun and the fireworks. The group wanted to put up the Bread and Breakfast establishment to provide comfort and accommodation to the tourists going to Peoples Park and Picnic Groove. So through the Bed and Breakfast establishment, the tourists will no longer worry about missing out the fun and travelling for such a long time just to get a nap or short sleep. Instead, they can stay as long as they want and just check-in at our inn afterwards, have a goodnight sleep and eat breakfast in the morning.

Some hindrances are the ones that block in completing the tourists experiences. By putting up an accommodation at Tagaytay City, this will stop the hindrances and fill the missing components of the tourists experience. Not only does this inhibit the blocks but it also opens up a whole new different experience to the tourists.

To identify the specific group of tourists a bread and breakfast will pursue, the group will use the Segmentation process. It is the process of segmenting a large market into smaller groups based on Demographic, Geographic, Firmographic, Behavioural, and Occasion.

Since the establishments purpose is to provide accommodation to Tagaytay City goers, they are the main target market. Other than the Tagaytay City goers, we are also pursuing another target market based on geographic location is the employees working at the companies nearby. In case of the demographic aspect, our target market would be families and groups of friends so the rooms of our establishments should accommodate at least four people per room. While in terms of benefits, the quality of the amenities and facilities must be satisfying and the prices must be affordable to reach the potential target markets.

Antheias Garden Inn

The name of the business is Antheias Garden Inn. Antheia is the Greek goddess of gardens, flowers, swamps, and marshes. The Inn proudly showcases the rich flora of the province of Laguna creating an ambiance of nature.

Antheias offerings

The Inn offers the following services: Twenty three garden-themed bedrooms 3 Single 1 single bed 5 Double 1 queen size bed 5 Twin 2 single beds 5 Triple 1 queen + single size bed 5 Quadruple 2 queen size beds Additional mattresses are available with additional cost. Complimentary breakfast Restaurant Room service Designated smoking area Laundry facilities Air conditioned room Crib available

Bathroom Hot and cold shower tap

Balcony

Unique Quality

The unique features of the Inn are the following:

Each room is garden themed; At the back of the inn, overlooking the balcony, is a stunning garden filled with different trees, beautiful flowers, and a pond filled with fishes to relax the guests from the hustle and bustle of the city life;

La-Z-Boy chair in each room; and A grand piano in the parlor A grand piano in the lobby keeping it classic and elegant Mini park, Organic mini farm Make-your-own-salad bar Pick-your-own-veggies

Antheias Business Structure

Antheias Inn is owned and operated by a corporation composed of four people who agree to invest money, labour, and skill in the business.

Location

Antheias Inn is located in 445 Tagaytay-Calamba Road, Barrio Sungay West Tagaytay City 4120 Philippines. It has a land area of 800 square meters. The location is approximately 1 to 2 km away from the popular Peoples Park and Picnic Groove.

Business Feasibility

Based on the initial data, Antheias Garden Inn is a feasible business because there is a potential high demand from the market for an accommodation considering it is one of the most popular tourist destinations in the country, Tagaytay City. According to research, as tourist arrival averages more than 2,000,000 per annum, there is a high demand for more lodging facilities. Tourist arrival of the City increased from 915,925 in 2001 to 2,006,571 in 2006 or an increase of 119.07 percent.

Objectives of the Study

The study aims to determine the feasibility of Antheias Garden Inn in Tagaytay City. Specifically, it aims to answer the following questions: 1. What is the profile of the accommodation business in Tagaytay City, in terms of the following? Products & Services offered Pricing Marketing strategy

2. Is Antheias Garden Inn feasible? 3. What is the business plan of Antheias Garden Inn? 4. What are its strategies to meet its goals?

Chapter 2 Situational Analysis

This chapter discusses the company profile, products and services, marketing plan, management plan, operational plan, financial plan, sustainable development plan, and the store expectations.

Antheias Profile

. Antheias Garden Inn showcases the rich flora of Laguna that creates a refreshing ambiance of nature. Itis inspired by the Greek goddess of gardens, flowers, swamps, and marshes. Figure 1 shows the logo of the Inn.

Figure 1. Logo of Antheias Inn

The logo of Antheias Garden Inn promises to Bring Families Together. It also emphasizes the conservation of nature, starting with its architectural design that harmonizes with the environment.

Vision

Antheia Garden Inn aims to be a model of Filipino value anchored in strong family bonding while maintaining profitability and conserving the environment.

Mission

In order to achieve its vision, Antheias mission is as follows:

People: Be a great place of work where people are inspired to be efficient and good performance are properly rewarded.

Profit: Sustain long-term return of investment. Productivity: Be a highly effective, lean and fast-moving establishment. Partners: Nurture a winning network of customers and suppliers and create a mutual and enduring value.

Environment: Conserve the environment.

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Core Value

The core values of Antheia are the following:

Leadership: The courage to shape a better future Passion: Committed in heart and mind Quality: What it does, it does well

Products & Services

The products & services of Antheias Inn are the following:

Garden-themed bedrooms

The group planned to design each room with different ambiance and atmosphere of a garden. It aims to entice guests to come back for a different experience in each room. All rooms are equipped with air-conditioning, bathrooms with the availability of hot and cold taps. Additional mattresses will be available but with additional cost. Table 1 shows the number of rooms of Antheia and their descriptions.

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Table 1 Number of Rooms of Antheia and Their Descriptions Number of rooms Room Type Number of beds and size 3 5 Single Double 1 single bed 1 queen size bed 5 5 Twin Triple 2 single beds 1 queen + 1 single size bed 5 Quadruple 2 queen size beds # of guests 1 2

Rates Php2,360.00 Php3,430.00 Php3,180.00 Php4,260.00

2 3

Php4,500.00

There will be 23 rooms that are available to all guests. It consists of three (3) single rooms, five (5) double rooms, five (5) twin rooms, five (5) triple rooms, and five (5) quadruple rooms. All room rates are inclusive of Filipino plated breakfast and are following customer-based pricing strategy.

The profile of the rooms is the following:

1. A single room is recommended for a guest who is travelling alone. Figure 2 shows the interior of a single room.

Figure 2.Interior of a Single Room

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Its amenities includes a mini bar, safety deposit box, two complimentary bottles of mineral water, laundry bag, slippers, toiletries, air-conditioned, and 24 flat screen television

2. A double room is recommended for married couples traveling together. Figure 3 shows the interior of a double room

Figure 3.Interior of a Double Room

Its amenities includes a mini bar, safety deposit box, two complimentary bottles of mineral water, laundry bag, slippers, toiletries, air-conditioned, and 24 flat screen television

3. A twin room is recommended for friends traveling together or additional room for families. Figure 4 shows the interior of a twin room.

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Figure 4.Interior of a Twin Room

Its amenities includes a mini bar, safety deposit box, two complimentary bottles of mineral water, laundry bag, slippers, toiletries, air-conditioned, and 24 flat screen television

4. A triple room is recommended for married couples with one kid. Figure 5 shows the interior of a triple room.

Figure 5.Interior of a Triple Room

Its amenities includes a mini bar, safety deposit box, two complimentary bottles of mineral water, laundry bag, slippers, toiletries, air-conditioned, and 24 flat screen television

5. A quadruple room is recommended for families traveling together. Figure 6 shows the interior of a quadruple room.
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Figure 6.Interior of a Quadruple Room

Its amenities includes a mini bar, safety deposit box, two complimentary bottles of mineral water, laundry bag, slippers, toiletries, air-conditioned, and 24 flat screen television

Restaurant

The restaurant is also managed by the Inn and has a different department. It will have a menu of the day with a pricing system based on the head chef.

Figure 7.Interior of Restaurant

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Figure 8.Make Your Own Salad Bar

Organic Farm

What sets us aside from other establishments is that our ingredients are always fresh. Our make-your-own-salad bar will boast its freshness and on the top quality.

Housekeeping

This department is responsible in maintaining the cleanliness of the whole vicinity. It provides the needs of the guests inside the rooms (including laundry services, crib for kids).

Amenities

Balcony

A balcony is provided in each room so the guests can relax and set their minds off with their problems and just be one with nature.
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Figure 8.View from the Balcony of each Room

Mini-park

To enjoy more the nature, it encourages its guests to walk with the whole family and feel the fresh air. They also have the option to have their meals set within the park.

Figure 9.View of the Mini Park

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Family activities

Antheia will provide its guests with various sports equipment for its various activities. Table 2 shows the different sports equipment.

Table 2 Sports Facilities and Rental Price Sports Equipment Biking Table tennis Kite flying Traditional Spa; whole body (for 18 and above) Pool Playground Free Free Price 70/head (any type of bike) Free for the first hour; 50/hr. 50/kite 500/head

Figure 10.Playground

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Playground equipment features swings, fitness & freestanding items and is constructed from the highest quality materials. We believe that a playground is so much more than just a playground, so it was designed specifically to promote child development through family bonding or activities.

Figure 11.Pool

Our pool was designed for both kids and adults to enjoy swimming together. It is divided into 2 parts; one is 2 feet high for the kids and the other is up to 6 ft. Also, the management value the safety of its guests; therefore we have a lifeguard on a day to day basis.

Figure 12.Spa

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Our traditional spa provides a serene and truly unmatched experience of relaxation.

Market Segment

Antheian will use the segmentation process to identify its target market. It is the process of segmenting a large market into smaller groups based on demographic, geographic, firmographic, behavioural, and occasion type.

The market segment of Antheia is based on psychographic style. Its market is people whose lifestyle is to go out from their normal environment and relax in a private place surrounded by nature during their freetime. It will target foreign and domestic corporations, organizations, schools, families, and friends. The demographic type of the target market segment is from 4-40 years old.

The inn also targets company employees within the vicinity of the location. Some employees need to work overtime and stay out late so to ease their dilemmas of going home late and groggy; the inn is open and available for them to have a comfortable and peaceful sleep.

The products and services of Antheias Inn will penetrate the target market and will be promoted through e-mails, posters, videos, flyers, cards and direct mails to companies.

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Marketing objectives

It is forecasted that Antheia will have a balance of payment in the first year of its operation. However, a modest growth of 20% is expected in the 2nd and third year and a 30% growth is expected in the 4th and 5th year of its operation. Table 3 shows the objectives of Antheia.

Table 3 Marketing Objectives of Antheia

Year 2014-2015 1st quarter Sales growth by 5% 2nd quarter 3rd quarter Reduce expenses by 5% 2015-2016 Sales growth by 10% Stable income Reduce expenses by 5% 2016-2017 Sales growth by 10% More incentive by 5% 2017-2018 Expansion Target market share by 10% 2018-2019 Reduce expenses by 5% Sales growth by 5% Sales growth by 10% Sales growth by 10% Stable income Reduce expenses by 10% Sales growth by 5% More incentive by 5% Target market share by 5% 4th quarter

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The steady growth of Antheia could be achieved through strong advertising and promotion, keeping profitable customers loyal to Antheia.

The objectives of Antheia are the following:

Focus on the needs of its customers and franchise partners; Sustain profitability: Listen, observe and learn from the market; Possess a global perspective; Be accountable for its actions and inactions; Reward employees for taking risks and finding better ways to solve problems; and

Learn from our outcomes -- what works and what do not work.

Marketing strategy

Strategy planning

In order that Antheia will achieve its objectives, it will make sure that its customers are always satisfied. Customer satisfaction can only be achieved once their expectations have been met. Hence, Antheia will regularly listen to its customers comments and suggestions and address all those comments.

At this point, the role of its employees is very important. Since the employees are the front runners of Antheia, it is also important that Antheias

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listens to their needs and address them. Only happy employees can satisfy customers.

Internal environment analysis Antheia has various capabilities and weaknesses. Table 4 shows the strengths and weaknesses of Antheia.

Table 4 Antheias Strength and Weaknesses

Strengths

Weakness

Clear vision, mission, goals, and Capability of the employees to objectives adjust to the vision, mission, goals, and objectives of Antheia. Strong resources support Customer-oriented employees Program Development for employees Strong corporate partners

Table 5 shows the strengths and weakness of Antheia. It has five strengths ranging from clarity of its vision, mission, goals and objectives that will serve as guide to the direction of Antheia on what they want to be in the future
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have already old habits which have been formed by their culture and experience. The old habits of employees do not normally appear during the six-month training period of the employee but it usually appears once they have been regularized.

External Environment Analysis

Antheia has various opportunities and threats as a start-up corporation Table 5 shows the opportunities and threat of Antheia.

Table 5 Antheias Opportunities and Threat

Opportunities

Threats

Big market opportunity Many competitors Stable local politics Stable inflation rate Natural calamities

Table 6 shows the opportunities and threats to Antheia. Its opportunities include the big market opportunity based on the big volume of foreign and domestic tourists that visit Peoples Park; there is also a stable political situation in Laguna; finally, the inflate rate is stable with people having enough extra money to spare for relaxation. However, it has also to overcome various threats
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like the big number of competitors in the area and the natural calamities that affect the behaviour of the foreign and domestic tourists.

Antheias Goal

Antheias Inn is committed to be the model of bringing families together while at the same time maintain financial profitability and conserving nature. Table 6 shows the diagram of the Antheias goal in relationship to its strategies.

Table 6 Diagram of the Antheias Goal in Relationship to its Strategies.

Antheias five goals are the following 1. Maintain core family values 2. Sustain its financial profitability

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3. Conserve the environment 4. Support the needs of its employees 5. Listen to the needs of its target market segment

The said goals must be shared by everyone in Antheia starting from the Board of Directors, Senior and Junior management, and staff so that everyone is moving towards one direction and one culture. Strategy formulation

In order to attain its goals of Antheia, the costs of its products and services will be competitive with its competitors, but it will offer more amenities and activities than others that address the needs of its target market segment.

Program formulation

The following support programs will be used to achieve the strategic plan of Antheia:

Recruitment Program

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There are a lot of ways to recruit the right employees for Antheia. For the Inns program of recruitment they made a list of effective strategies to find people fit at the kind of work they offer. Table 7 shows the various strategies of Antheia to recruit the right employees.

Strategy

Description Firm looks a certain percentage of employees using the

Online internet through ads, social media, and other forms of Recruiting modern technology. Targeted Recruitment Firm looks a certain skill of a person. There are times when such skills are needed. The employees themselves recruit people because of the Word of Mouth performance of the firm and because they are happy working at the company. The firm accepts on-the-job trainees. If the trainees are Internships excellent wand wants to keep on working, they can be a full-time employer. The firm can find potential employees through job fairs Job Fairs held at specific universities and fields. Table 7 Strategies of Antheia to recruit the right employees Training Program

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The newly recruited employee will undergo a training program. This is to determine the skills of the employees if what they can do fits the needs of Antheia.

Fringe Benefits

The fringe benefits are given to employees who perform an extraordinary task to help build the image of Antheia. The benefits are given to employees to motivate them. Some of the fringe benefits given by Antheia are the following: Retirement plans, Life Insurance, Health Insurance, and SSS.

Implementation Based on its program formulation, Antheia will be able to retain the best employees suited for the job and needed by Antheia. It has also the needed budget to ensure the steady growth of its employees.

Feedback and control Antheia will establish a marketing information system that will enable it to monitor important information relevant to the success of the business such as the feedbacks of its customers and the actions taken by Atheian, to address the issues; profile of its customers and the things they like about Antheia; and lists of suppliers and competitors.

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Distribution channel

Since Antheia caters to both foreign and domestic tourists, it will establish a consortium among travel & tour agencies for its foreign market segment and with the local travel agencies for its domestic tourists. Table 8 shows the relationship among Antheia, travel & tour agency, and local agencies.

Table 8 Relationship among Antheia, Travel & Tour Agency, and Local Agencies

Antheia's Garden Inn

Travel Agency

Consumer

Pricing strategy

Antheias pricing strategy is Customer-Based pricing. According to Jim Riley, pricing is determined by what the firm believes the customers will be prepared to pay for the products and services. Antheia follows this type of pricing strategy, because it is a service-based business where the goal is to satisfy the customers wants, needs and expectations.

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Antheia forecasts its revenue to grow by 20% each year. Table 9 shows the revenue forecast of Antheia. Table 9 Revenue Forecast
60000 50000 40000 30000 20000 10000 0 2016 2017 2018 2019 Revenue

Table 9 shows that by 2016 the net revenue of Antheia is P 20 000, in 2017 it will be at 25 000, 2018 at 35 000, and in 2019 at 45 000. The management truly believes that our business has nowhere to go but up. With the full effort of their competencies, abilities and skills of the whole management, our business will be profitable.

Table 10 Sales Quota per Quarter for the Years 2016-2017

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Sales Quota (Volumebased) 1stQuarter 15 families

Objectives

Making sure that every service or product

Year 2016 Sales growth rate 2nd Quarter 20 families

becomes profitable Cultivate bloggers and Get published online 3rd Quarter 20 families Distribute flyers all throughout Metro Manila 4th Quarter 20 families Maintaining a healthy relationship with suppliers

1st Quarter 30 families 2nd Quarter 30 families Year 2017 Sales growth rate

Expansion Decreasing the expenses without harming the quality of a certain service or product

3rd Quarter - 35 families

Maintaining a healthy relationship with suppliers

4th Quarter 40 families

Join conventions

Based on its revenue forecast, Antheia will set the quota for each quarter. Table 10 shows the sale quota for the years 2016-2017.
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Marketing Budget

The management would invest approximately P100,000 for the marketing budget of Antheia. A mix of marketing strategy will be designed to create awareness to its target market segment. The media to be top for the job are the following: o Print media - local newspapers, magazines, flyers

Broadcast media local commercials, radio advertisements Online media Advertisement through social web pages such as Facebook, twitter, YouTube, blogs and as well as our own website

Direct mail - subscriber lists, offices for delivery Partnershippartnership with other establishments such as travel agencies, hotels, motels and inns, the local government unit

Summary

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Antheias Garden Inn proudly showcases the rich flora of Laguna that creates a refreshing ambiance of nature. As a start-up corporation, it will be owned and managed by its Incorporators.

Antheias Garden Inn offers the following services: Seven garden themed bedrooms, Air-condition room, Bathroom with hot and cold shower, 24-hour room service, Free Wi-fi in each room, Garden balcony, Restaurant, Complimentary buffet breakfast, Laundry facilities, and Parking area. Some of the unique qualities of are the following: Garden themed room, Garden balcony, La-Z-Boy chair in each room, Playground for children (Free for in-house guests).

It will target foreign and domestic corporations, organizations, schools, families, and friends. The demographic type of the target market segment is from 4-40 years old.

The media it will top for the job are the following: Print media, broadcast media, online media, and direct mail.

Management Plan

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A management plan is our guide for the organization to run, both day-today and over the long term. Antheias Garden Inn exists to fulfil its commitment in Bringing Families Together while emphasizing the conservation of nature.

The management consists of different departments with their own sets of responsibilities, however we practice Collaborative management. A Collaborative management is where the whole group -- which usually includes all staff and may include participants as well -- takes part in major decisions, and everyone takes part in decisions which affect her directly. At the same time, everyone has enough authority to fulfil her own responsibility and do her job effectively. This practice allows everyone to feel a sense of ownership in the organization.

Operational Plan Table 11

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Organizational Chart
General Manager

Accounting Head

Human Resource Manager

Front Office Head

House Keeping Head

Food & Beverage Head

Sales and Marketing Head

Security and Maintenance Head

The organization consists of 1 general manager to oversee the day-to-day business operations, 1 accounting head and 1 staff to handle all finances of the organization, 1 Human Resource Head to handle the attraction, selection, training, assessment, and rewarding of employees and 5 departments to attend the needs of the guests. Financial Plan

The initial capital requirement of Antheia is twenty million pesos (P20, 000, 000).

Table 12 Start-up Costs

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Item Land Building Mattresses, sheets, blankets, etc. Smoke detectors Kitchen Equipments Entrance signs Decorations Garden Php

Cost 1,840,000.00

Expected Life 30 yrs 25 yrs 3 yrs

5,000,000.00 1,500,000.00

10,000.00 500,000.00 3,000.00 100,000.00 200,000.00

5 yrs 10 yrs 2 yrs

First Year Costs Legal fees Promotions, Advertising Supplies Security Php 15,000.00 3,000.00 80,000.00

Total

Php

9,251,000.00

Table 12 shows the start-up capital of Antheia.

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Table 11 shows the start-up expense is Php 9,251,000. The start-up expenses includes the following: Land, building, mattresses, sheets, blankets, smoke detectors, kitchen equipment, entrance signs, decorations, garden landscape, legal fees, promotions and advertising, office supplies, and security. If it is deducted from the initial capital, what will be left isPhp10, 749,000.

The balance sheet presents the financial position of Antheia. It shows what the Antheia owns and what it owes to other parties. Table 12 shows the projected balance sheet of Antheias Garden Inn.

Table 13 Antheias Balance Sheet Current assets Cash Short-term Investments Accounts Receivables Prepaid Rent Total Current Assets Property, plant and Equipment Land and Building Php 30,000.00 10,000.00 6,000.00 Php Php 10,795,000.00 2,328,000.00 10,749,000.00

6,840,000.00

Property and equipment Long-term Investments

Php 60,000.00

9,168,000.00

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Other Assets Total Assets

15,000.00 Php 20,038,000.00

Liabilities Current liabilities Note Payable Php 1,500,000.00

Accounts Payable 2,000,000.00 Accrued wages 2,470,000.00 Taxes payable Total Current liabilities Long-term debt Php Php 50,000.00 6,020,000.00 4,000,000.00

Owners Equity Total owners equity Total Liabilities and owners equity Php Php 10,018,000.00 20,038,000.00

The balance sheet consists of three parts: The first part is the assets where it identifies what Antheia owns. It includes the resources of the company that has been obtained through transactions and the costs paid in advance that have not yet reached its expiration; the second part is the liabilities where it shows the amounts owed by Antheia to its creditors. It is the obligation of the company made through past transactions and deals with the other parties;the

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last part is the equity. It is the source of the companys assets. It is the amount contributed by the owners and the retained earnings.

Antheias income statement shows the projected income statement of the business. It measures the financial performance of Antheia over a year. Table 13shows the Income statement of Antheia.

Table 14 Income Statement Sales Cost of Good Sold Gross Profit Php Php Php 15 ,000,000.00 1,200,000.00 13 ,800,000.00

Operating Expense Wages Utilities Rent Equipment Total Expenses Nonrecurring events Discontinued Operations Extraordinary Items N/A N/A Php Php Php Php Php 100,000.00 1,000,000.00 72,000.00 1,800,000.00 2,972,000.00

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Effect of Accounting changes Other Items Net Income Php

N/A N/A 1,828,000.00

It is divided into two parts. The first part is the Operating section where it identifies the regular business operation expenses of the Inn. The second part is the non-operating section. It shows the expenses of the activities that are not tied directly to a companys regular business operations. Cash flows statement provides Inns cash receipts and cash payments. It is the movement of money into and out of the company.Table 15 shows the projected cash flow statement of the Inn.

Table 15 Cash Flow statement Operating Activities Cash receipts from customers Cash paid for Inventory purchases Wage Expenses Interests Income Taxes Net Cash flow from Operations Investing activities Php Php Php Php Php (1,000,000.00) (100,000.00) (150,000.00) (200,000.00) 2,550,000.00 Php 4,000,000.00

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Cash receipts from Sales of property and Equipment Cash paid for Purchase of property and Equipment Loans to other Entities Net Cash flow from Investing activities Financing Activities Cash receipts from Issuance of stocks Borrowing Cash paid for Repayment of loans Net Cash flow from Financing Net Increase in Cash

Php

600,000.00

Php Php Php

(200,000.00) (100,000.00) 300,000.00

Php Php Php

75,000.00 (75,000.00) 2,325,000.00

There are three components of a cash flow statement. The first component is the Operating activities where it shows the cash generated from the daily operations of the business. The second component is the investing activities where it shows the buying and selling of noncurrent assets that is used in generating revenues. And the third component is the financing activities where the borrowing and repaying of money is shown.

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Financial Ratios

Gross Profit Margin 13000000 15000000 = 0.92

The gross profit margin indicates the business financial health. It is computed by dividing Gross margin profit to sales. The projected margin for the venture is 80%. This means that the higher percentage the more the business retains its sales.

Current Ratio 10795000 = 1.79318936877076 6020000

The current ratio provides the companys ability to pay its short-term liabilities. It is computed by dividing current assets to current liabilities. The higher the ratio, the more capable the company is of paying its obligations.

Fixed Asset Turn-over 15000000 = 9168000 1.636125654

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The Fixed Asset turnover measures the ability of the company to generate sales from the fixed assets. It is computed by dividing sales to total fixed assets. The higher the ratio the more effective are the equipment

Total Assets Turnover. 15000000 = 0.748577702 20038000

The Total Assets Turnover measures the efficiency of the company to use its assets to generate sales. It is computed by dividing sales to total assets.

Sustainable Development Plan

Environmental

For the next few years the Inn plans to sustain the beauty of its environment through planning the strategies for the environmental sustainability. According to Smallbiz connect, environmental sustainability is the action by which natural resources are protected, preserved and nurture in order to increase its capability to support human life. It concerns decision making on matters that will decrease the negative impacts of the inn to its nature.

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In order to protect and increase positive response from nature, Antheias Garden Inn will practice environmental sustainability by taking care of the garden, using organic food for guests, powering facilities with renewable energy sources, conserving water, recycling, waste reduction, and more actions that could help in preserving and protecting nature.

Economic

According to WiseGeek, Economic sustainability is the plan where the resources of a company are used to the very best of its advantage. It means the resources are used responsibly and efficiently to generate profit consistently.

Now that Economic sustainability is defined, the Antheias Garden Inn plans to pursue this through taking advantage with modern technology, use of wood and forestry products, distribution of locally produced foods, taking care of the facilities, collaborating with a good company and a lot more practices that can help in generating more income for the venture.

Equity

To Sharon Beder, Equity sustainability talks about fairness. It means being fair, equal and just to all aspects of the venture. It talks about people having

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equal access to the resources and opportunities ahead of them. Sharon Beder emphasized that no individual should be greater than the other.

True Equity can be maintained by being fair, just, and equal with people. No discrimination should be permitted in every organization. Having dedication is also one practice on how to maintain equity, partnership, stewardship, and many more that can lead to better, harmonized and united organization.

Antheias Expectations

Antheias Garden Inn expects that in its first year of operation, it will have a balance of payment. It means that its revenue is equal to its expenses. However, in the succeeding years, in the next two years, it will create a revenue of 10-15%, and in the succeeding three years, it will grow by 30% as it gain loyal and profitable customers from its target market segment and new customers.

The management also considers an expansion after all quotas and target sales growth is achieved. By 2017, an evaluation will be done and re-assess the planning.

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Chapter 3 Business Viability

The chapter discusses the pitfalls, positives, needed capital, entrepreneurs role, corporate partners, proprietary rights, and infrastructure members of the study.

Pitfalls

Some of the possible drawbacks of the business are the following:

Sustaining the motivation of the employees

One of the drawbacks of Antheia is on sustaining the capability of its employees to adjust to the vision, mission, goals, and objectives of Antheia. Antheia will address this drawback by support the Employees Development Program in order to build a culture of service in the company.

Many competitors

There are many competitors in Sta. Rosa, Laguna. Antheia will address this issue by lowering the cost of its products and services by 5% against its lead competitors during the first year of its operation in order to attract its tssegment

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and change their buying behaviour once they have experienced the products and services of Antheia.

Natural calamities

Philippines has over 25 typhoons every year. This means that the occupancy rate of Antheia will drop during every typhoon. Antheia will address this challenge by offering promo rates and man-made activities that suit its loyal customers such as a concert by a popular artist or band.

Positive

Some of the strengths of Antheia internally are the following:Clear vision, mission, goals, and objectives;Strong resources support;Customer-oriented employees;Program Development for employees;and Strong corporate partners.

Externally, some of the strength of Antheia are the following: Big market opportunity; Stable local politics; and Stable inflation rate.

Needed Capital In order for Antheia to start its business, it needs its capital of twenty million pesos (P20, 000, 000). Its capital comes from the following sources:

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investment from its Incorporators, loans from banks, community lenders and online lenders. Table 16 shows the start-up capital of Antheia.

Table 16 Start-up Costs

Item Land Building Mattresses, sheets, blankets, etc. Php Cost 1,840,000.00 Expected Life 30 yrs 25 yrs 3 yrs

5,000,000.00 1,500,000.00

Smoke detectors Kitchen Equipments Entrance signs Decorations Garden

10,000.00 500,000.00 3,000.00 100,000.00 200,000.00

5 yrs 10 yrs 2 yrs

First Year Costs Legal fees Promotions, Advertising Supplies Security Php 15,000.00 3,000.00 80,000.00

Total

Php

9,251,000.00

Table 16 shows the start-up expense is Php 9,251,000. The start-up expenses include the following: Land, building, mattresses,sheets,blankets,
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smoke detectors, kitchen equipment, entrance signs, decorations, garden landscape, legal fees, promotions and advertising, office supplies, and security. If it is deducted from the initial capital, what will be left is Php10, 749,000.

Entrepreneurs Role The role of the entrepreneur is very significant in the success of Antheia. Table 16 shows the different role of the entrepreneur.

Table 17 Entrepreneur Role

Position

Job Description She is the direct overall manager of the various departments. She manages stakeholder relations,

General Manager manages community relations, and ensures that the Camille Castillo strategic goals and objectives of the business are realized. She does the overall implementation of the business plan The HR head takes care of all the employees. This HR Head Akimi Ferrera includes hiring, firing, giving out salaries and making sure that the employees are working hard and are doing a great job.

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In this position, the head takes care of everything on the Reception /Front Office Head Isabella Diaz reception. The person assigned must maintain the organization of keeping the records and making sure that everything is under control in bookings, reservations, checking in/out, inquiries and guests payments She ensures that accommodation is clean, well Housekeeping maintained and attractively presented. She controls a Head budget, manages stock and orders supplies Arvee Pacag

General Manager

Accounting Head Human Resource Manager

Front Office Head

House Keeping Head

Food & Beverage Head

Sales and Marketing Head

Security and Maintenance Head

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According to Tim Berry, A business plan is any plan that works for a business to look ahead, allocate resources, focus on key points, and prepare for problems and opportunities.

This helps the new venture to look ahead and guides the business to stay on track and lead them to the future the owners want it to be. The key points that should be further discussed in the business plan are the products, services, marketing, and branding. There should be a more detailed outlook on what the business wants to happen with their products and services in the near future. Furthermore, the new venture should have plans for the future on how to improve their marketing strategies and branding to be flexible on the changes that may occur for the next few years.

Licenses from: Securities & Exchange Commission Department of Trade & Industry Bureau of Internal Revenue Business Permit Accreditation from the Department of Tourism

Corporate Partners

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Corporate Partners: Department of Tourism Philippine Tour Operators Philippine Travel & Tour Association Guides Incorporated Travel & Tour Agency Local & Domestic Travel and Tour Agency DOT Accredited Hotels DOT Accredited Restaurants DOT Accredited Transport Groups Philippine Tourist Transport Operators

Table 18 Corporate Partners of Antheia

Contact Company Name Address No. (02) 638 The Linden Suites 37 San Miguel Avenue, Ortigas Centre, Pasig 1600 7878

CVCLAW Center 11th Avenue, Ccorner 39th Street Villaraza & Angangco Bonifacio Triangle, Bonifacio Global City Law Offices Metro Manila Makati City

(63 2) 988-6088

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1.

The CEO of Linden Suites is a relative of one of the owners of Antheias Inn. They made an agreement that they will support and help one another in promoting and creating accommodation.

2.

Villaraza & Angangco Law Offices helped Antheias Inn by assisting in certain government papers and mainly building up the inn.

Infrastructure Members

The infrastructure members of Antheia includes: Lawyers who will help it on legal matters; Architect and engineers who will help it in the design and decoration of the Inn; Accounts who will help it in managing its financial operations; and a professional hotel consultant who will guide the owners in matters pertaining to the operations of the Inn.

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Chapter 4 Business Schedule

Timetable of the project

I.

Operating Period Table 19 Departments Person in charge Number of staff General Manager Human Resource Dept. Camille Angeline Castillo AkimiFerrera (Human Resource Manager) Front Office Dept. Isabella Diaz (Front Office Head) House Keeping Dept. ArveePacag (House Keeping Head) 8 3 3

Food and Beverage Dept.

Stephanie Kim Apo (Food and Beverage Head)

Sales and Marketing Dept.

Erika Louise Fernandez (Sales and Marketing Head)

Accounting Dept

Jenny Jane Ramayan (Accounting Head)

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Security and Maintenance Dept.

DennAldrinCruzado (Security and Maintenance Head)

Organizational Chart

General Manager

Accounting Head

Human Resource Manager

Front Office Head

House Keeping Head

Food & Beverage Head

Sales and Marketing Head

Security and Maintenance Head

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Duties of each Unit Management Personnel Table 20 Position General Manager Roles and Responsibilities Direct overall management of the various departments Manage stakeholder relations Manage community relations Ensure that the strategic goals and objectives of the business are realized Manage the brand of the Bed & Breakfast Report to concerned stakeholders on the performance of the business Human Resources Manager Brand affiliation management Attract new business to the Bed & Breakfast Provide input regarding local business community needs Charity events and fund raising at the Bed & Breakfast Overall implementation of the business plan Working closely with departments, increasingly in a consultancy role, assisting line managers to understand and implement policies and procedures Recruiting staff: this includes developing job descriptions, preparing advertisements, checking application forms, short listing, interviewing and selecting candidates Promoting equality and diversity as part of the culture of the

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organization Liaising with a wide range of organizations involved in areas such as race relations, disability, gender, age, religion, and health and safety Developing policies on issues such as working conditions, performance management, equal opportunities, disciplinary procedures and absence management Advising on pay and other remuneration issues, including promotion and benefits Undertaking regular salary reviews Negotiating with staff and their representatives on issues relating to pay and conditions Administering payroll and maintaining records relating to staff Interpreting and advising on employment legislation and implementing disciplinary procedures Developing, with line managers, HR planning strategies, which consider immediate and long-term staff requirements in terms of numbers and skill levels Planning and delivering training, including inductions for new staff Analyzing training needs in conjunction with departmental managers

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Front Office Manager

To ensure that guests are greeted, checked in and allocated rooms promptly and courteously

To ensure that check-in procedures are strictly adhered to and that the correct address and charge out details are obtained from each guest

To be readily available at all times to deal with problems or complaints

To ensure that rooms are serviced and maintained to the standards laid down by Extravagant Luxury Bed & Breakfast

To ensure maximum room occupancy within agreed overbooking policy

To ensure that reservations are taken correctly and courteously To ensure effective liaison between reservations and front office staff with other departments (e.g. housekeeping)

To ensure that all charges are correctly entered on the guest's bill and that this is up to date at all times

To ensure that credit control procedures are strictly adhered to, that no bills exceed the stipulated limit without prior approval and that written confirmation, purchase orders, or order numbers are on file

To ensure that accounts are balanced daily To ensure effective and speedy check-out facilities To ensure that luggage is delivered to and collected from rooms

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speedily To ensure that enquiries, messages, conference bookings are dealt with courteously and efficiently To ensure that all front office staff are correctly and smartly dressed at all times To ensure that all Front Office areas are clean and tidy at all times To ensure that newspapers and parcels are delivered to rooms without delay To ensure that incoming and outgoing telephone calls are handled promptly and courteously To ensure maximum security of all items left in safety deposit boxes To carry out systematic checks of all Front areas for maintenance requirements, repairs or refurbishing, ensuring that these are done without delay To ensure that the Bed & Breakfast entrance is easily accessible to cars and taxis at all times To hold regular performance appraisals with all senior staff, identifying areas for development and training needs and ensuring that this training is effected To carry out or ensure that regular On-the-Job training is taking place to agreed standards To hold regular meetings with all senior staff. To ensure that

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manning levels are correct and that these are not exceeded without permission To ensure that the most suitably qualified person is appointed in the event of a vacancy - wherever possible this should be an internal promotion To ensure maximum security in all areas To act as Duty Manager when required To attend Management Meetings as required To circulate regularly throughout all front areas, maintaining a high profile with guests and staff To ensure accurate and timely submission of all reports as well as administrative work To monitor trends within the industry and make suggestions how these could be implemented To be familiar with all local rules and regulations To ensure that staff under his/her control are trained in safety and security measures House Keeping Manager Ensuring that accommodation is clean, well maintained and attractively presented Controlling a budget, managing stock and ordering supplies Liaising with reception services to co-ordinate the allocation of accommodation Liaising with other departments, e.g. the kitchen, to arrange room

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service; Arranging laundry and linen supplies Planning staff rotas Arranging repairs and maintenance Recruiting, training and supervising teams of room attendants Inspecting to ensure that all aspects of the accommodation meet hygiene and health and safety regulations

Food and Beverages Manager

Organize, direct and evaluate food and beverage service Assisting with the recruitment and training of staff in the Food and Beverages section

Shift scheduling Performance management; monitor staff performance and provide feedback

Purchase and control of inventory Monitor revenues and expenses Ensure practice of health and safety regulations Negotiate supplier arrangements for food and beverage products

Negotiate with clients for use of facilities for catering, parties, banquets, etc

Sales and Marketing

To follow up leads by visiting prospective clients regularly, often enough to maintain their interest but not too often to

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Manager

alienate them To achieve budgeted sales targets To identify prospective clients' exact needs, by questioning, observation and the completion of a full sales survey To entertain prospective clients, where possible combining this with visits to existing satisfied customers To liaise closely with operational staff on all details for a prospective new contract and gain their agreement on all details To maintain communication with the clients once the contracts are opened and show an ongoing interest in the operation To complete a daily/weekly log of all activities To analyze statistics so as to identify key sales areas, problems and success rate To research prospective client details, finding out as much as possible about the company to ensure a professional approach To constantly monitor and be aware of competitor activity To present a realistic proposal to a prospective client, having thoroughly researched cost factors, and ensure that the proposal is achievable To constantly be aware of new business opportunities and take action on these

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Accounting Officer

To accurately complete the daily, weekly and monthly returns, submitting these timely on the prescribed format in accordance with the Bed & Breakfasts standards

To reconcile and balance cash, floats and dockets ensuring that these tally with daily income and expenditure

To notify management immediately of any variances in the above

To make payments from petty cash against vouchers or invoices

To ensure that all documentation for the receipt and issuing of commodities is accurately completed

To inform management of any shortages, surpluses or irregularities in connection with the above item and ensure that queries are handled immediately

To assist with stocktaking at prescribed intervals To extend and process stocktaking figures accurately and timely

To ensure that cash and relevant vouchers are securely and systematically kept

To ensure that control systems are operating effectively within agreed parameters

To ensure that all administration is handled efficiently,

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systematically and filed or sent to the appropriate department without delay To leave all desks and office in a clean and neat manner when going off-duty To ensure that all lockable areas are secure before leaving the premises To bank all monies in accordance with laid-down procedures To ensure that all documentation is kept securely against fire, theft and espionage To carry out on-the-job training at prescribed intervals To attend meetings and training courses as required To take part in fire drills and evacuation drills at required intervals Security and Maintenance Officer Protection of guests and workers physical well being and health Protection of guests properties Employ safety training Reduction of employee theft from rooms Monitor activities outside the entrance of the Bed & Breakfast Protect storage areas In charge of the Bed & Breakfasts surveillance systems

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Drafting emergency plans for the Bed & Breakfast Prepare security check list and procedures

Unit Management Personnel

Time to be devoted to the project and duties

Qualifications

Compensation

Camille Angeline Castillo

8 hours per day

Miriam College graduate, BS Leisure and Tourism Management, General Manager of Antheias Garden Inn

Php30,000.00

AkimiFerrera

8 hours per day

Miriam College graduate, BS Leisure and Tourism Management, Human Resource

Php25,000.00

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Manager of Antheias Garden Inn Isabella Diaz 8 hours per day Miriam College graduate, BS Leisure and Tourism Management, Front Office Head of Antheias Garden Inn ArveePacag 8 hours per day Miriam College graduate, BS Leisure and Tourism Management, Housekeeping Head of Antheias Garden Inn Stephanie Kim Apo 8 hours per day Miriam College graduate, BS Php20,000.00 Php20,000.00 Php20,000.00

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Leisure and Tourism Management, Food and Beverage Head of Antheias Garden Inn Erika Louise Fernandez 8 hours per day Miriam College graduate, BS Leisure and Tourism Management, Sales and Marketing Head of Antheias Garden Inn Jenny Jane Ramayan 8 hours per day Miriam College graduate, BS Leisure and Tourism Management, Accounting Manager of Php20,000.00 Php20,000.00

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Antheias Garden Inn DennAldrinCruzado 8 hours per day Philippine College of Criminology graduate, BS Criminology, Security and Maintenance Head of Antheias Garden Inn Php18,000.00

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Chapter 5 Summary, Conclusions and Recommendations

The chapter discusses the SWOT, Related studies, Business Viability, Business Schedule, Target market, Conclusions and Recommendations of the Study.

SWOT Matrix

Strengths
Multi-lingual and well trained staff 24 hours operation Free Wi-Fi Cheaper Quality Service

Weaknesses
New establishment

Opportunities
Internet/Media

Threats
Off-Season time Criticisms Competitors

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Industry Review A Bed and Breakfast is a small lodging establishment that offers an overnight stay and a breakfast to its customers. It has an estimated worth of 3.4 Billion dollars. In USA, 17,000 inns were estimated to provide products and services to be the desired destinations for millions of travellers around the world. There are four forces that impacts the B&B industry. These are the economic forces, where it changes rapidly and could have a direct correlation to the ability of the innkeepers to operate; Technological forces, where the growth of the digital information world helps the innkeepers to think of tactics and strategies to gain more customers through the internet; Social forces, where the aging population requires special attention with their accommodations and lastly the Political forces, where taxes, labor laws and such affects the industry. Bed and Breakfast Statistics (based on PAII Industry Study Data) Order the Industry Study of Inn keeping Operations and Finance today! Performance (in medians) Occupancy Rate Average Daily Rate Revenue per Available Room 43.7% $150 $58

About The Inns Typical B&B has between 4 and 11 rooms, with 6 being the average

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 29% were in rural locations, 23% were urban, 5% suburban, and 43% were village 94% of rooms have private baths 36% have achieved an "historical designation" by a local, state or national historic preservation organization 5,700 square feet is the average size for a B&B 93% offer free high speed wireless internet Most inns provide the following in common areas: internet, magazines, hot/cold beverages, board games, fireplace, refrigerator, newspapers, telephone, cookies/cakes/candies/fruit, fresh flowers and televisions. Most inns provide the following in guest rooms: internet, television, luxury bed/linens, premium branded toiletries, robes, fireplaces, magazines and jetted tubs.

About the Inn Owners 72% of inn owners are couples, 18% are individual females, 5% are individual males, 5% are non-couple partnerships 79% of owners live on premises

Related Studies According to Peter C. Morales, Bed and Breakfast is niche segment of the travel industry. It is identified as a private residence that offers an overnight

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accommodation and a breakfast. While B&Bs and Inns are often used interchangeably, the Professional Association of Innkeepers International differentiates the two. They said that B&B only offers breakfast while Inns may also offer lunch and dinner. The important factors of B&B are its uniqueness and sense of social environment. They say, that B&B owners usually loves people and hanging out with others. According to Highlights of the Eighth Biennial Bed-and-Breakfast & Country Inns PAII Industry Study of Operations, Marketing, and Finance for 2002,

Average number of rooms for a bed and breakfast is 8.5, up from 8 rooms in 2000

95% of respondents offer rooms with private baths 93% 94% of inns/bed and breakfasts are non-smoking Responding inns employ 4.6 people 42% of bed and breakfasts have meeting rooms Most Bed and Breakfast doesnt have any employees because it is operated by a family. According to the US Census Bureau County Business Patterns, there were 3,042 bed & breakfast inns with paid employees (721191). As seen in these data, not only does the Bed and breakfast help the travellers but it also helps other people to have a job.

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As B&B shifts their attention to business traveller, they also focus their advertising online. Ray Coll, President of the Pittsburgh Bed & Breakfast Association

Business Schedule

Antheias Bed and Breakfast Inn will be opened this year in the month of March and will be very much positive in offering a lot of services to satisfy customers needs. Why March? As the business entrepreneurs believe that this season will be the perfect time for higher market demand and market profitability as people go out for inns with their respective families to take a vacation and unwind after stressful months of working.
For guests Check-in Check-out Operating hours Front office Room service 24 hours Cleaning & Laundry 8:00 AM to 6:00PM Food service 24 hours Staff 8 hrs. shifting basis 2:00PM 12:00PM

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Target Market

Since the establishments purpose is to provide accommodation to Tagaytay City goers, they are the main target market. Other than the Tagaytay City goers, we are also pursuing another target market based on geographic location is the employees working at the companies nearby. In case of the demographic aspect, our target market would be families and groups of friends so the rooms of our establishments should accommodate at least four people per room. While in terms of benefits, the quality of the amenities and facilities must be satisfying and the prices must be affordable to reach the potential target markets.

Competition

One of the threats that our business will face is the number of competitors around the area. However, after surveying, we discovered that there may be a lot of hotels and breakfast and inn in Tagaytay but only few were located near or across the Picnic grove where large number of tourists go. The top three establishments below are all located at Calamba Road, Tagaytay City.

Belize Tagaytay Bed and Breakfast One tagaytay place Hotel The Windy Ridge Hotel

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Recommendation

Antheia should add more rooms to make the generous number of facilities of the inn useful to more guests. Antheia should incorporate Lagunas local delicacies to the menu of their restaurant. Other than the playground, the Inn should make an area for kids where they can have cupcakes or fresh fruit shake stand.

Conclusion

Antheias Bed and Breakfast Inn project proposal is feasible as there is potential market demand and market profitability, and therefore, should start the business and keep it running until it is established. Its location, unique services and products will only be some of the factors for it to succeed for the next couple of years. Also, based on the projections as depicted by the financial statements, the proposed project is a profitable kind of business.

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References Suzanne G. Dane, National Trust Guide to Historic Bed & Breakfasts, Inns, and Small Hotels, 2013 Retrieved http://www.innspireconference.com/res/docs/CABBI_Survey-

PAII2002.pdf, 2013 Updated City Development Strategy Report for Tagaytay City. In (2008). City Development Strategies in the Philippines: An Enabling Platform for Good Governance and Improving Service Delivery (p. 13). Tagaytay City: Cities Alliance.

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Articles of Partnership Of _______________________________ KNOWN ALL MEN BY THESE PRESENTS: That, we the undersigned, all of legal age and residents of the Republic of the Philippines has agreed to amend a general partnership under the terms and conditions herein after set forth and subject to the provisions of existing laws of the Republic of the Philippines. AND WE HEREBY CERTIFY: ARTICLE I. That the name of the partnership shall be Antheia Bed and Breakfast and Garden Inn ARTICLE II. That the principal office of the partnership shall be located at 445 Tagaytay-Calamba Road, Barrio Sungay West Tagaytay City 4120, Philippines. ARTICLE III. That the names, citizenship and residence of the partners of the said partnership are as follows. Name Akimi Ferrera Camille Castillo Maria Isabella Diaz Arvee Pacag Citizenship Filipino Filipino Filipino Filipino Residence Philippines Philippines Philippines Philippines

ARTICLE IV. That the term for which said partnership is to exist is 25 years from the original recording of the said partnership by the Securities and Exchange Commission. ARTICLE V. That the capital of this partnership shall be ten million pesos, Philippine Currency contributed in cash by the partners as follows:

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Name Camille Castillo Akimi Ferrera Maria Isabella Diaz Arvee Pacag

Amount Contributed Php 2,500,000.00 Php 2,500,000.00 Php 2,500,000.00 Php 2,500,000.00 TOTAL PHP 10,000,000.00

That no transfer which will reduce the ownership of Filipino citizens to less than the required percentage of capital shall be recorded in the proper books of the partnership.

ARTCLE VI. That the profits and losses shall be divided pro-rata among the partners. ARTICLE VII. That the firm shall be under the management of Camille Castillo as General Manager and as such he/she shall have the charge of the management affairs of the partnership. ARTICLE VIII. That the partners undertake to change the name of the partnership immediately upon receipt of notice or directive from the Securities and Exchange Commission that another partnership, corporation or person has acquired a prior right to the use of that name or that the name has been declared misleading, deceptive, confusingly similar to a registered name, or contrary to public morals, good customs or public policy. IN WITNESS WHEREOF, we have hereunto set our hands this 22nd day of February 2014 at Miriam College, Quezon City, Philippines.

345-123-347-000 TIN

235-359-124-000 TIN

574-345-685-000 TIN

234-674-235-000 TIN

Signed in the presence of:

Akimi Ferrera

Camille Castillo

Maria Isabella Diaz

Arvee Pacag

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